Global Diabetic Socks Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
Global Diabetic Socks Market is expected to reach the market valuation of US$ XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX million in 2020.
Diabetic socks are specially designed to keep feet dry, decrease the risk of a foot injury, and enhance blood circulation. They are a key part of foot care, which is an important aspect of diabetes management due to potential damage to the nervous and circulatory systems caused by high blood sugar levels. Promulgating the number of diabetic people, Globally is contributing to the growth of the demand for diabetic socks. As per International Diabetes Federation, 63 million adults around the world between the ages of 18 and 79 suffer from type 2 diabetes (T2D). By 2045, this figure is set to reach 700 million people. In Europe, 60 million people are living with type 2 diabetes. This figure will rise to 68 million in 2045. But these figures do not fully reflect the significance of this condition, as around 40% of people in Europe are unaware that they have type 2 diabetes.
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According to the American Diabetes Association, approximately 50% of people with type 2 diabetes and 20% of those with type 1 diabetes have been witnessing nerve damage, along with poor blood flow. The diabetes complication puts one at risk for developing a foot ulcer (a sore or wound) that could get infected and not heal well. Diabetic socks help in the prevention of such mishappenings so the demand for diabetic socks is on the surge.
The Prevalence of Obesity and Overweight is rising dramatically across the globe and has nearly tripled since 1975. Obesity is among one of the leading causes of death worldwide as obese people are prone to many serious health conditions and illnesses including Diabetes. As per CDC, More than 900,000 adult COVID-19 hospitalizations occurred in the United States between the beginning of the pandemic and November 18, 2020. It is estimated that 271,800 (30.2%) of these hospitalizations were attributed to obesity.
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The COVID-19 pandemic has had an unparalleled impact on the socio-economic and healthcare structure across various countries. During COVID -19 period, people have seen their daily lifestyles change drastically. Diabetic patients especially had a reason to be concerned. As per a news article, doctors have reported a definite increase in the number of diabetes cases during the pandemic; and they blame the viral infection itself, the use of steroids in the treatment, and the sedentary lifestyle during the pandemic.
Based on the Product, the market is mainly fragmented into Ankle length, Knee length, and calf length. The calf-length segment dominated the market in 2020 and gathered XX% in 2020. Moreover, the segment is anticipated to maintain its dominance during the analyzed period. The demand for this segment is witnessing an uptick owing to several benefits such as reduce the diameter of major veins by increasing the volume and velocity of blood flow, diminish leg swelling, reduce orthostatic hypotension, which causes lightheadedness or unsteadiness when you stand, help in preventing venous ulcers, etc.,
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Based on the Product, the market is mainly fragmented into Regular socks and smart socks. The regular socks segment grabbed the major market share and dominated the market. The segment captured XX% market share in 2020. However, the smart socks segment would witness the highest CAGR during the forthcoming years as it provides measurements of the pressure exerted under and all around the foot in real-life conditions
Additionally, the report provides detailed initiatives that are being taken in the field of Diabetic Socks. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America region dominated the market with US$ XX million in 2020. However, the Asia-Pacific region is expected to witness the highest CAGR during the forecast period on account of rising health awareness among end-users in the countries such as China, India, and Japan.
Global Diabetic Socks Market Segmentation
Market Insight, by Product
- Ankle Length
- Calf Length
- Knee Length
Market Insight, by Type
- Regular Socks
- Smart Socks Lipase
Market Insight, by Material Type
Market Insight, by Distribution Channel
- Retail Stores
- Hypermarket/ Supermarket
Market Insight, by Application
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- BSN Medical
- HangZhou Aidu Trading Co., Ltd.
- Soyad Brothers LLC.
- DJO, LLC
- PediFix Inc.